Rhumbline Advisers Sells 15,698 Shares of Dayforce, Inc. $DAY

Rhumbline Advisers cut its holdings in Dayforce, Inc. (NYSE:DAY) by 5.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 296,257 shares of the company’s stock after selling 15,698 shares during the quarter. Rhumbline Advisers owned about 0.19% of Dayforce worth $16,410,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DAY. Mufg Securities Americas Inc. lifted its stake in shares of Dayforce by 25.9% in the 2nd quarter. Mufg Securities Americas Inc. now owns 3,543 shares of the company’s stock valued at $196,000 after purchasing an additional 729 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Dayforce by 18.4% during the second quarter. Handelsbanken Fonder AB now owns 40,500 shares of the company’s stock valued at $2,243,000 after buying an additional 6,300 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Dayforce in the second quarter worth about $699,000. Catalyst Funds Management Pty Ltd boosted its stake in shares of Dayforce by 112.5% during the 2nd quarter. Catalyst Funds Management Pty Ltd now owns 11,900 shares of the company’s stock worth $659,000 after acquiring an additional 6,300 shares in the last quarter. Finally, Greenland Capital Management LP bought a new stake in shares of Dayforce during the 2nd quarter worth about $3,264,000.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DAY. Zacks Research downgraded Dayforce from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Dayforce from $60.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. TD Cowen downgraded shares of Dayforce from a “buy” rating to a “hold” rating in a report on Thursday, August 21st. UBS Group downgraded shares of Dayforce from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $70.00 target price (up previously from $67.00) on shares of Dayforce in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $70.36.

Dayforce Trading Up 0.1%

Shares of DAY stock opened at $69.10 on Friday. The firm has a market capitalization of $11.06 billion, a P/E ratio of -73.51, a price-to-earnings-growth ratio of 2.67 and a beta of 1.20. Dayforce, Inc. has a 1 year low of $48.01 and a 1 year high of $81.93. The firm’s fifty day simple moving average is $68.70 and its 200 day simple moving average is $63.17. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23.

Dayforce (NYSE:DAY) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). Dayforce had a negative net margin of 7.91% and a positive return on equity of 6.54%. The company had revenue of $481.60 million during the quarter, compared to the consensus estimate of $481.22 million. During the same period last year, the company earned $0.47 earnings per share. Dayforce’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts predict that Dayforce, Inc. will post 1.48 EPS for the current year.

Insider Transactions at Dayforce

In related news, COO Stephen H. Holdridge sold 2,000 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $68.87, for a total transaction of $137,740.00. Following the transaction, the chief operating officer directly owned 178,814 shares in the company, valued at $12,314,920.18. The trade was a 1.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William Everett Mcdonald sold 1,912 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $68.25, for a total value of $130,494.00. Following the completion of the sale, the executive vice president owned 101,772 shares of the company’s stock, valued at $6,945,939. This represents a 1.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 76,179 shares of company stock valued at $5,219,460 in the last ninety days. 4.50% of the stock is owned by corporate insiders.

Dayforce Company Profile

Dayforce Inc, together with its subsidiaries, operates as a human capital management (HCM) software company in the United States, Canada, and internationally. It offers Dayforce, a cloud HCM platform that provides human resources, payroll and tax, workforce management, wallet, benefits, and talent intelligence functionalities; and Powerpay, a cloud HR and payroll solution for the small business market.